A new class of crypto treasury companies is forming around Strategy’s high-yield stock

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email A new class of crypto treasury companies is forming around Strategy’s high-yield stock Firms and protocols are accumulating Strategy’s preferred stock to capture yield and bitcoin-linked exposure. By James Van Straten | Edited by Omkar Godbole Apr 15, 2026, 9:48 a.m. Make preferred on What to know : New entrants such as Saturn Credit and Apyx are rapidly building large STRC positions. Nearly $200 million of STRC has been tokenized on Ethereum, with around $100 million actively trading on Pendle, enabling onchain access to its yield. STRC recorded a record-breaking $1.6 billion trading day on Tuesday. A new class of crypto treasury companies is emerging around Strategy’s high-yield stock, STRC, drawing in firms looking to capture both exposure to bitcoin BTC $ 73,950.99 and additional income. STRC is a security issued by Strategy, the largest publicly traded holder of bitcoin, as a funding vehicle to support its ongoing bitcoin accumulation strategy. The company raises capital by offering investors an annualized dividend of 11.5%, paid monthly in cash, with proceeds primarily used to purchase BTC. Such is the stock’s popularity that it registered a record-breaking trading volume on Tuesday, with more than $1.6 billion in shares changing hands. STRC, the new base layer As trading volumes surge, a growing number of companies and decentralized finance protocols are accumulating STRC to capture its yield while gaining indirect exposure to bitcoin. STRC is now being used as a base layer for new financial products that add leverage, tokenization and structured yield. Saturn Credit , a bitcoin-backed yield platform, accumulated $15 million in STRC within six days of launch. Apyx , an onchain credit protocol, has built a position of 800,000 shares after purchasing an additional 200,000 STRC, with plans to become one of the largest holders. BitStrategy is taking a similar approach. Co-founder and Head of US Ryan McGinnis said the firm aims to accumulate Strategy securities, with the long-term goal of becoming the world's largest Strategy shareholder. On-chain, nearly $200 million in tokenized STRC now exists on Ethereum, with close to $100 million trading on Pendle. Pendle is a decentralized finance platform that allows users to trade and separate yield from underlying assets, creating markets for future income streams. Ex-dividend date pushes STRC below par value During Wednesday's pre-market trading, STRC dropped to $99.39, falling below its $100 par value, a reference price set by the company, often tied to how it issues new shares. This happened after the stock went "ex-dividend," which means new buyers are no longer eligible to receive the upcoming dividend payment. Because the price is now below $100, the company will temporarily stop selling new shares through its at-the-market (ATM) program. Bitcoin News MicroStrategy More For You Ethereum treasury firm Bitmine reports $3.8 billion Q1 loss in latest filing By Shaurya Malwa 3 hours ago The largest corporate ether holder posted a $3.8 billion quarterly loss as its pivot from mining to ETH accumulation continues. What to know : Bitmine Immersion Technologies has rapidly transformed from a mining firm into a leveraged Ethereum treasury, doubling its share count in six months and raising more than $10 billion to accumulate nearly 5% of all ether. The company now holds 4.87 million ether at an average cost of $2,206 per token,... Read full story Latest Crypto News EToro to acquire crypto wallet Zengo in $70 million deal 15 minutes ago Ethereum treasury firm Bitmine reports $3.8 billion Q1 loss in latest filing 3 hours ago Bitcoin developers are trying to build quantum defenses. Your coins could pay the price. 3 hours ago XRP climbs toward $1.38 as Japan's Rakuten integrates token for payments 4 hours ago Ether-bitcoin ratio bounces from 2026 lows, signaling broader crypto recovery 5 hours ago SOL, ADA, DOGE pull back, bitcoin holds above $74,000 as Asia recoups Iran war losses 5 hours ago Top Stories The next Fed chair has crypto exposure in his portfolio. Here are the details 14 hours ago Goldman Sachs files for bitcoin income ETF in crypto push 18 hours ago JPMorgan CFO warns stablecoins risk becoming ‘regulatory arbitrage’ play 19 hours ago Visa and Zodia Custody join Stripe’s new blockchain for machine payments 21 hours ago Bitcoin climbs to highest level since Feb. 5 crash that sent price plunging to $60,000 19 hours ago In this article BTC BTC $ 73,950.99 ◢ 0.77 %